Zions Bancorporation Purchases Shares of 1,139 Canadian National Railway (CNI)

Zions Bancorporation purchased a new position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,139 shares of the transportation company’s stock, valued at approximately $102,000.

A number of other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Canadian National Railway by 20.7% in the first quarter. Dimensional Fund Advisors LP now owns 332,893 shares of the transportation company’s stock worth $24,344,000 after buying an additional 56,995 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Canadian National Railway in the first quarter worth $117,000. First Citizens Bank & Trust Co. purchased a new stake in Canadian National Railway in the second quarter worth $209,000. Addenda Capital Inc. increased its position in Canadian National Railway by 96.8% in the second quarter. Addenda Capital Inc. now owns 1,174,555 shares of the transportation company’s stock worth $90,817,000 after buying an additional 577,847 shares during the last quarter. Finally, Windward Capital Management Co. CA increased its position in Canadian National Railway by 0.3% in the second quarter. Windward Capital Management Co. CA now owns 235,649 shares of the transportation company’s stock worth $19,264,000 after buying an additional 672 shares during the last quarter. Institutional investors and hedge funds own 54.00% of the company’s stock.

A number of analysts have issued reports on CNI shares. Zacks Investment Research raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research report on Monday, July 30th. Cowen reissued an “outperform” rating and issued a $96.00 target price (down from $98.00) on shares of Canadian National Railway in a research report on Wednesday, October 24th. BMO Capital Markets downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Tuesday, September 25th. Finally, Credit Suisse Group raised their target price on Canadian National Railway from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 24th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.07.

Shares of NYSE CNI opened at $86.18 on Thursday. The firm has a market capitalization of $62.53 billion, a PE ratio of 22.44, a P/E/G ratio of 2.20 and a beta of 0.97. Canadian National Railway has a fifty-two week low of $70.59 and a fifty-two week high of $91.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.58.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 23rd. The transportation company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.38. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Canadian National Railway had a return on equity of 22.67% and a net margin of 42.06%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 earnings per share. As a group, equities research analysts predict that Canadian National Railway will post 4.18 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be given a $0.3477 dividend. The ex-dividend date is Thursday, December 6th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.34. This represents a $1.39 annualized dividend and a dividend yield of 1.61%. Canadian National Railway’s payout ratio is 35.94%.

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Canadian National Railway Company Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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